We’re back with the next installment of Markies Monday, a weekly blog series designed to help you learn more about the 2020 Markie Award categories, finalists, and winners. Be sure to check back each week to learn how Oracle CX customers are driving success and building customer relationships that last.
The consumer market is rapidly evolving, and that’s never been truer than it is today as the vast majority of consumers are more dependent than ever on online shopping to acquire both the necessaries and the discretionaries. However, it’s not enough for brands to simply sell online. Smart brands are going beyond the purely transactional experience toward one that inspires buyers to become brand-loyal enthusiasts.
The Convert Award for Best Commerce Experience recognizes the commerce teams that are hyper-focused on creating inspirational experiences that are tailored to buyers’ immediate needs. These experiences give buyers more than a basic transaction with the help of value-added features such as powerful content and personalized recommendations. Here’s how the Markie finalists are transcending the everyday norm to create exceptional experiences.
Put the power in the hands of customers
Whether shopping for a new pair of shoes, a loaf of bread, or even an FD3000 concrete mixer truck, customers expect to be able to buy at any time of day or night, on any device, through any channel. Terex, a major manufacturer of lifting and material handling solutions for industries like construction, quarrying, and mining, acknowledged that a more convenient shopping experience for things like replacement parts and low consideration purchases would be crucial to their growth strategy.
Terex wanted to transform their digital experience by migrating from an outdated, on-premise platform to a modern, superior performing site powered by Oracle CX Commerce. Payoffs from this cloud migration include their site’s speed now running twice as fast. Mobile usage has more than tripled thanks to responsive templates. According to Terex, these benefits, plus the added ability to perform site searches to aid in the self-discovery of product parts, have allowed their business to grow by over 9% in year over year revenue.
Leveraging the success of their B2B site, Terex has since branched into an entirely new market by reusing its B2B components to launch a B2C site. Give your customers, both B2C and B2B, the opportunity to shop at their convenience with high-end, self-service experiences.
Learn, adapt, and innovate
Reserva, a Brazilian apparel and accessories retailer, has made a name for itself as a rebel with a cause by using clothing as a medium for sparking social commentary on topics of sustainability and human rights. Reserva migrated from an on-premise solution to Oracle CX Commerce in order to satiate its appetite for constant innovation and modernization. According to Reserva, they’re now able to quickly go to market and test new features such as a faster purchase with guest checkout, greater personalization with CX Commerce Audiences and Promotions, and a cryptocurrency payment option.
These features help increase conversion rates, average order value, and customer lifetime value. Reserva is on the cutting edge of ecommerce innovations, experimenting and learning from how shoppers interact with the latest in digital shopping trends.
Capture the magic of in-store shopping online
How does one sell a product that has historically relied on the ability to see, feel, and test in order to make a purchasing decision? This decision-making process most aptly describes the mattress industry. Markie finalist Sleep Country was not only able to address this concern but capitalize on it to deliver a digital experience that has resulted in an 85% increase in year-over-year sales in the first two months since launching and includes the top three sales days in Sleep Country’s history.
Sleep Country, a specialty retailer of mattresses and sleep accessories in Canada, set out to reinvent their ecommerce experience, and they did so with methodic precision by engaging in market research, gathering customer input, and benchmarking against the competition. The result? A robust digital sales channel, including a marketplace, which provides an expansive product assortment and enables an endless aisle experience. The innovation didn’t stop there; Sleep Country also launched customer sleep profiles and a mattress matcher tool to ensure a rich customer experience regardless of whether you’re shopping with an associate in store or from the (dis)comfort of your bed at home. Sleep Country has firmly reinvented the way mattress shopping is done online.
All of the Markie finalists from The Convert Award for Best Commerce Experience serve as inspiration for where digital commerce is headed and what we can do today to take our ecommerce experiences to the next level. As the race to take your business online continues, it will be the companies that create standout commerce experiences who will build lifelong advocates in their customers and who will ultimately succeed.
To learn more about the 2020 Markie Award finalists and winners click here.